Update to IRA contributions in 2013

Just a note to update our post regarding IRA catch up contributions available to those over 50 years of age for 2013:

Updated IRS regs show you may still make a $1000 additional catch up contribution to your traditional or Roth IRA for 2013, which is in addition to your regular $5500 contribution amount. The 2013 catch up contribution for employer sponsored accounts such as 401(k)’s is $5500, which is in addition to the regular $17,500 contribution amount.

Happy saving!